ZKH Group (NYSE:ZKH) Sets New 1-Year Low - Should You Sell?

Key Points

• ZKH Group hit a new 52-week low, trading as low as $2.20 and last at $2.2850, a decline of about 30.3% from the prior close on heavy volume.
• Analyst sentiment is weak overall — Wall Street Zen upgraded to a "Hold" but the company's average rating remains "Sell".
• Institutional investors have been active: FIL Ltd increased its stake to 7.62M shares (~$28M) and Renaissance boosted its position 442%, while Invesco and Goldman initiated smaller positions; institutions now own about 9.52% of the stock.

ZKH Group Limited Unsponsored ADR (NYSE:ZKH - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $2.20 and last traded at $2.2850, with a volume of 227779 shares. The stock had previously closed at $3.28.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of ZKH Group to a "hold" rating in a research note on Saturday, January 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

ZKH Group Stock Down 30.3%

The company's 50-day simple moving average is $3.45 and its 200 day simple moving average is $3.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.85 and a quick ratio of 1.62.

Hedge Funds Weigh In On ZKH Group

Institutional investors have recently made changes to their positions in the business. FIL Ltd increased its position in ZKH Group by 26.0% during the fourth quarter. FIL Ltd now owns 7,621,884 shares of the company's stock worth $28,049,000 after acquiring an additional 1,572,957 shares during the period. Renaissance Technologies LLC grew its position in ZKH Group by 442.1% in the 4th quarter. Renaissance Technologies LLC now owns 91,500 shares of the company's stock worth $337,000 after purchasing an additional 74,621 shares during the last quarter. Invesco Ltd. bought a new position in shares of ZKH Group during the 4th quarter worth about $291,000. Jain Global LLC bought a new position in shares of ZKH Group during the 3rd quarter worth about $238,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of ZKH Group during the fourth quarter valued at about $106,000. 9.52% of the stock is currently owned by institutional investors.

About ZKH Group

ZKH Group Limited develops and operates a maintenance, repair, and operating (MRO) products trading and service platform that offers spare parts, chemicals, manufacturing parts, general consumables, and office supplies in the People's Republic of China. The company provides MRO procurement and management services; digitalized MRO procurement solutions; and logistics and warehousing services. It also engages in the production and sale of intelligent warehousing equipment. ZKH Group Limited was founded in 1998 and is based in Shanghai, the People's Republic of China.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.